TD Bank Review 2023

Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

TD Bank: Overall Bank Rating

For our TD Bank review, we rate bank products and services using a variety of methodologies. Learn more about our how we review products below:

• bank account methodology
• auto loan methodology
• personal loan methodology
• mortgage lender methodology
• credit card methodology

TD Bank: Pros and Cons

TD Bank Personal Bank Accounts

TD Simple Savings Account - Product Name Only

TD Signature Savings - Product Name Only

TD Bank (Member FDIC) has two savings accounts: TD Signature Savings and the TD Simple Savings Account.

The TD Simple Savings Account makes it easy to waive monthly service fees during the first year — just make a recurring deposit of at least $25 each month. After that, you'll need to maintain a minimum daily balance of $300 or meet certain age-specific requirements. 

TD Signature Savings - Product Name Only generally offers more competitive interest rates than TD Simple Savings Account for most account balances. However, you'll need to be mindful of a TD Signature Savings - Fees Display. To waive the monthly fee you must maintain a $10,000 minimum balance, link to a TD Beyond Checking Account, or open an IRA.

If you qualify for a relationship rate, you'll also earn a higher interest rate on TD Signature Savings - Product Name Only, especially on higher balances. To qualify for a relationship rate, you must link a savings account to a TD Bank personal checking account, small business checking account, credit card, mortgage, or home equity loan.

See Insider's TD Bank savings rates review.

TD Bank Simple Checking Account - Product Name Only

TD Bank Convenience Checking Account - Product Name Only

TD Bank Beyond Checking Account - Product Name Only

TD Bank offers a variety of checking accounts. You don't need a minimum deposit to open any TD Bank checking account. However, all of the accounts have monthly service fees. You can waive monthly service fees on some TD Bank checking accounts by meeting certain minimum balance requirements or if you fit a specific age group.

See Insider's TD Bank Checking Account review.

TD Bank Choice Promotional CD - Product Name Only

TD Bank No-Catch CD - Product Name Only

TD Bank Step Rate CD - Product Name Only

TD Bank CD rates are relatively low overall, with the exception of a few terms. It also has a no-penalty CD and a step-up CD, though, so TD is a good choice if you want a variety of options.

TD Bank Auto Loans

TD Bank is an indirect lender, so you won't be able to get an auto loan directly from the financial institution. Information about auto loans term, rates, and fees isn't available online. You'll have to find a dealership partner to learn more about TD Bank auto loans.

See Insider's TD Bank auto loans review.

TD Bank Personal Loans

TD Bank has unsecured personal loans called Fit Loans. You may qualify for a Fit Loan if you live in a state that has a TD branch. Loan amounts range from TD Bank Fit Loan - Loan Amount Range.

See Insider's TD Bank personal loans review.

TD Bank Mortgages

TD Bank may be a solid choice if you're looking for a variety of home loans. The bank has conforming loans, FHA loans, VA loans, construction loans, jumbo loans, Medical Professional mortgages, TD Right Step mortgages, TD Home Access mortgages, home equity loans, and HELOCs.

See Insider's TD Bank mortgage review.

TD Bank Credit Cards

TD Bank also offers several types of credit cards, including secured credit cards, travel credit cards, and cash back credit cards.

The TD Double Up℠ Visa Credit Card - Product Name Only is notably listed in our guide for the best 2% cash back credit cards as a top pick for TD Bank customers.

How TD Bank Works

TD Bank is a brick-and-mortar financial institution on the East Coast with over 1,100 branches and 2,600 free ATMs. Branches are accessible in the following states:

• Connecticut
• Delaware
• Florida
• Maine
• Maryland
• Massachusetts
• New Hampshire
• New Jersey
• New York
• North Carolina
• Pennsylvania
• Rhode Island
• South Carolina
• Vermont
• Virginia
• Washington, DC

Customer service is available 24/7 over the phone. Branches are open on weekdays, some are also open on Saturdays, and others are open seven days per week.

The bank's mobile app has received 4.8 out of 5 stars in the Apple store and 4.2 out of 5 stars in the Google Play Store. 

TD Bank is FDIC-insured, which means you may safely keep up to $250,000 in an individual bank account. 

Is TD Bank Trustworthy?

In our TD Bank review, we including ratings from the Better Business Bureau. The BBB grades companies based on how they deal with customer issues.

TD Bank has an A+ rating from the BBB. Bear in mind a good BBB rating isn't necessarily the be-all and end-all. Consider talking to current customers or reading online customer reviews to get a well-rounded perspective of TD Bank.

TD Bank has been involved in one recent public controversy. In 2020, the US Bureau of Consumer Financial Protection required TD Bank to pay $122 million in a settlement that accused the bank of charging customers a Debit Card Advance service without their permission.

TD Bank Review vs. Citizens Bank Review

Citizens Bank has more than 1,200 branches and 3,300 ATMs along the East Coast and Midwest. It has locations in Connecticut, Delaware, Florida, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, and Washington, DC. 

You might prefer Citizens Bank over TD Bank if you're searching for more savings account options. Citizens Bank has a personal money market account while TD Bank doesn't.

Citizens also might be worth considering for auto loans if you live in Connecticut, Massachusetts, or Rhode Island. The bank is piloting an auto loan program in these areas right now.

TD Bank may be a better choice if you're searching for more options for home loans. For example, TD Bank offers a physician home loan.

TD Bank Review vs. Bank of America Review

Bank of America has 4,200 branches in 37 states and DC, while TD Bank has around 1,100 branches in 15 states and DC. Bank of America could be a better option if you want a larger branch network.

You might prefer TD Bank if you're looking for more options for home loans. Bank of America doesn't have home equity loans or construction loans.

TD Bank: Frequently Asked Questions

How much money do I need to open a TD Bank account?

You may open a TD checking or savings with $0. CDs require at least TD Bank Choice Promotional CD - Minimum Deposit.

Is TD a good bank?

TD Bank might a good choice if you prefer traditional brick-and-mortar banks to credit unions or online banks. It is also may be ideal if you want to open bank accounts with low initial deposits, a variety of home loan or personal loan options, or a 2% cash back credit card.

What do I need to get a TD Bank account?

TD Bank lets you open a bank account online or at a local branch.

You will need to share your name, birth date, address, social security number, or tax identification number. If you open an account in person, you'll need to bring a US ID.